analysis of financial statements by sondhi

7/29/2019 Analysis of Financial Statements by Sondhi

1/8

1. Ending Cash 94,000

2.

3. Cash Balance 12/31/01 $ 60

4. Net income $ 92

b. Change in cash $ 16

c. Change in cash M

1996 1997 1998 1999 2000

8 1 15 (20) 16

Net Income: M

1996 1997 1998 1999 2000 2001

Sales

Bad debt expense

Net receivables

Cash collections

1

$ ---

---

30

$ ---

$ 140

7

40

$ 123

$150

7

50

$133

$165

8

60

$147

$175

10

75

$150

$195

10

95

$165


2/8

1996 1997 1998 1999 2000

Net Income

42 40 36 37 9

Change in cash G

1996 1997 1998 1999 2000

2 4 3 19 35

Net Income: G

1996 1997 1998 1999 2000

Net Income

23 42 58 72 94

5. A. i

Net change in cash $ 100

Ii Cash from operating $1,530

Net change in cash $ 100

6. B

CHANGEINCASH $ 524 $ 524

9.


3/8

Net change in cash 92

$ 13,379

93

$ (3,064)

94

$ (15,379)

Taxes paid $(12,414)

$(22,989)

$(8,408)

10. c

As

Reported

1987

As

Reported

1988

Reported

Change

1987-88

Less

Kraft

Adjusted

Change

Receivables

Inventory

PPE

Goodwill

ST debt

A/C payable

Accrued

liabilities

LT debt

$ 2,065

4,154

6,582

4,052

1,440

791

2,277

6,293

$ 2,222

5,384

8,648

15,071

1,259

1,777

3,848

17,122

$ 157

1,230

2,066

11,019

(181)

986

1,571

10,829

$ 758

1,232

1,740

10,361

700

578

530

900

$ (601)

(2)

326

658

(881)

408

1,041

9,929

10. b

Increase in cash and equivalents $ 78

Philip Morris Companies, Inc.

Worksheet for Statement of Cash Flows

Indirect Method


4/8

Year Ended December 31, 1988 ($ Millions)

Cash flows from operating activities:

Net income

Adjustments to cash basis:

Depreciation expense

Amortization of goodwill

Decrease in accounts receivable

Decrease in inventory

Decrease in deferred taxes

Increase in accounts payable

Increase in accrued liabilities

Increase in income taxes payable

Net cash flow from operating activities

Cash flows from investing activities:

Increase in PPE (before depreciation)

Increase in goodwill (before amort.)

Decrease in investments

Acquisition of Kraft

Net cash used by investing activities

Cash flows from financing activities:

Decrease in short-term debt

Increase in long-term debt

Decrease in stockholders' equity

(repurchase)

$ 2,337

654

125

601

2

(325)

408

1,041

362

$ (980)

(783)

405

(11,383)

$ (881)

9,929

(540)

$ 5,205

(12,741)


5/8

Dividends declared

Increase in dividends payable

Net cash provided by financing activities

Net increase in cash

Supplementary disclosure of cash flow

information:

Interest paid during year

Income taxes paid during year

Schedule of noncash investing and

financing activities:

(941)

47 7,614

$ 78

670

1,353

$-------

11. a

Cash from operations $ 411.6

12. A

1989 1990 1991

Adjusted cash from operations $ 532 $ 682 $ 518

C

1989 1990 1991

Adjusted cash flow for investing $ (782) $ $

(669)

$ (304)

e.

1989 1990 1991

Equals: free cash flow $ (250) $ 13 $ 214


6/8

13 a.

Cash from operating activities

1998

3,056

1999

7,685

Net change (84) 714

13 A ii

Change in cash and equivalents

1998

65 297

13 d

Repsol Cash from Operations ( Millions)

Years ended 12/31 1998 1999Difference

Operating activities:

Cash from operations

3,0

56

7,

685

4,62

9

14 a

Cash flow from operations $ 700

14 b.

Net income

2000

$ 825

2001

$ 600

14. c

% change

Sales 12.68%


7/8

Cash collections 12.14%

Cash collections/sales

Cost of goods sold 19.05%

Cash inputs 20.73%

Cash inputs/COGS

SG&A 19.40%

Cash expenses 15.71%

Cash expenses/SG&A

15 A

Cash flow from operations $791

15 b

Net income

2000

$ 840

2001

$ 792

15. c

% change

Sales-0.79%



Cost of goods sold -1.67%


8/8

Cash inputs -4.52%

Cash inputs/COGS

SG&A* 2.01%

Cash expenses -5.93%

Cash expenses/SG&A

16. A

Cash flow from operations $1,195

16. b

% change

Sales20.0%



Cost of goods sold 18.3%

Cash inputs 30.0%

Cash inputs/COGS

SG&A* 35.0%

Cash expenses 36.3%

Cash expenses/SG&A

Interest expense 0.0%

Interest paid 9.1%

Interest paid/Interest expense

analysis of financial statements by sondhi

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